London & Scottish Investments Ltd (LSI), a Glasgow-based investment, development, and property asset management company, has today announced that it has been appointed as asset manager for Regional REIT Limited, a newly-incorporated regional commercial property company which will be admitted to the London Stock Exchange on Friday (6 November 2015).
Regional REIT Limited invests in both the office and industrial sectors in major regional centres and urban areas outside London.
The deal will see LSI manage Regional REIT’s portfolio of 128 primarily office and industrial properties across the UK, with a value of £386m. Fifty-one of these properties are in Scotland, across Aberdeen and Glasgow, with a total of 2.5 million square feet of lettable area.
Stephen Inglis, Chief Investment Officer and Property Director for LSI said:
“This is great news for LSI, being appointed to run the property assets of Regional REIT. We have worked very hard to build up the portfolio from zero in June 2013 to 128 assets located throughout the main regions of the UK. These cities and regions are showing strong signs of economic growth, resulting in increasing demand for high quality office and industrial space, and at the moment, supply does not meet that demand.”
“LSI intends to invest in the refurbishment and improvement of many of the properties we will be managing, which will help address this shortage.”